A Century of Current Account Dynamics

Preprint
Publisher Website
Google Scholar
  • 1 January 2002
    • preprint
      • Published in RePEc
Abstract
Recent globalization trends have refocused attention on the historical evolution of international capital mobility over the long run. The issue is examined here using time-series analysis of current-account dynamics for fifteen countries since circa 1850. The inter-war period emerges as an era of low capital mobility and only recently can we observe a tentative return to the degree of capital mobility witnessed during the late nineteenth century. The analysis of saving and investment dynamics also helps make sense of the frequently observed high correlation of saving and investment rates in historical data.
All Related Versions

This publication has 0 references indexed in Scilit: